James Sullivan, MD-Asia equity research at JPMorgan, shared his views and outlook on global economy and markets with CNBC-TV18. He also discussed macroeconomic contracting both in the US and in emerging markets

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Here are the highlights from his interview:

What we are seeing now is a battle between liquidity and economic realities.

Japan & Germany have 20% of GDP in their fiscal stimulus.

GDP & PMI numbers are now the worst on record.

Expect the tug of war between liquidity and economic realities to continue.

Better to stick to consumer staples and tech stocks currently.

Expect PMI & GDP in China to improve significantly in H2.

Ability of Indian govt to provide stimulus has been limited.

Impetus from govt spending will be weaker in India compared to other markets.

See some headwinds for financials sector for the next 6-12 months.